2Definitions 2

2 Definitions 2

Part I—Sale of land 10

Division 1—General provisions relating to the sale and subdivision of land 10

8 Apportionment of mortgage moneys where land subdivided 11

8A Land which can be disposed of without being subdivided 12

9AA Sale of land prior to approval of plan 18

9AAA Insurance 21

9AB Disclosure of works 22

9AC Amendments to plan 24

9AD Possession 24

9AE Rescission of an off-the-plan contract 25

9AF Repayment of deposit moneys 26

9AH Where land sold does not accord with land in plan 26

10 Amendment affecting pre-sold lots 28

10A Residential off-the-plan contracts and sunset clauses 28

10B Power of vendor to rescind a residential off-the-plan contract under sunset clause 28

10C Inconsistent provision of no effect 29

10D Purported rescission a breach of a residential off-the-plan contract 29

10E Vendor may obtain order of Supreme Court to rescind 30

10F Information to be included in sunset clause 31

10G Prohibition on recovering land tax or commercial and industrial property tax under contract of sale of land 32

10H Prohibition on recovering windfall gains tax under option or contract of sale of land 33

10I CPI adjusted threshold amount 34

11 Owners corporation must have insurance policy 36

12 Offences in relation to the sale of land 36

12A Guidelines 37

13 Burden of proof as to knowledge of falsity of representation 38

14 Certain agreements void 38

14B Further powers of arbitrator with respect to subdivisional land 39

15 Notices 40

15A Approved building manual must be given to purchaser of land 40

16 Offences 41

17 Regulations 42

Division 2—Arbitrators 43

18 Power to Governor in Council to appoint arbitrators 43

19 Appointment of arbitrators 43

20 Power to arbitrators to appoint assessors 43

21 Jurisdiction and powers of arbitrators 44

22 Regulations 44

Division 3—Deposits 45

23 Definitions 45

24 Deposit moneys held by legal practitioner, conveyancer or estate agent to be held as stakeholder 46

25 Deposit moneys to be paid into special purpose account or held by legal practitioner, conveyancer or estate agent 47

26 Application of deposit moneys where contract rescinded 48